Best Bitcoin and Cryptocurrency Exchanges

Ratings and reviews of the best exchanges to trade bitcoin and other cryptocurrency on the web. Exchanges are rated on ease of use, security and methods of payment available.

Cryptocurrency is on fire right now and everyone is looking for the best cryptocurrency exchange to get their share. There are several key considerations when choosing a platform to get started on.

The most important feature that a trader should look into is security. While the most secure place to store coins is a “cold” wallet with a private key, traders should be able to take comfort in the fact that their accounts are secured by Two-Factor Authentication and the platform’s security. However, if you do decide to store your cryptocurrency in an online wallet, here are some of your best options. Another important feature for cryptocurrency exchanges are ease of use when buying cryptocurrency. Platforms that offer easy ways to purchase coins (credit card & PayPal) are usually preferred. Below is a chart listing some of the top exchanges across different countries. If you have personal experience with any of these exchanges, feel free to leave a review.
Update: Coinbase is receiving various user complaints about customer service, missing funds and extremely long wait times on transfers. Coinbase is still at the top of the exchange list and currently the most beginner friendly exchange. However, if you’ve encountered bad experiences with Coinbase, we recommend Binance or CEX.io. New user registration for Binance has been re-opened!

Why are the prices different across platforms?

The price of any given cryptocurrency usually differs by 1-15% between exchanges. There are several reasons for this fluctuation in price. The first reason could be the trading volume across exchanges. These large spikes in volume can increase or decrease supply, affecting the price. Another reason is that cryptocurrency does not have any concrete way to prove it’s value. The current price is based solely on trading volume and demand. Basically the price is determined by the amount that people are willing to buy and sell it for across each exchange.

So which site is the best cryptocurrency exchange?

There is no clear cut way to define the best cryptocurrency exchange. It honestly depends on what a trader is looking for in a platform. Instead of attempting to select the overall best cryptocurrency exchange, I’m going to highlight the pros and cons of some of the top exchanges.

Coinbase

For the beginner trader, Coinbase has the most ease of use. It allows the user to buy cryptocurrency using a credit card, has great security and a large support team of developers. There are some downsides that the more advanced cryptocurrency trader may miss out on though. Coinbase is only trading Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

A trader looking to get their hands on other altcoins, like Ripple or Stellar, won’t find them on Coinbase. Coinbase does add new coins to their platform, but that is after they have gained a significant following and has passed their vetting process.
Also, the advanced trader won’t get the option to purchase bitcoin futures or engage in trading on the margin. Coinbase has recently encountered issues with maintaining service during times of high volume.

GDAX

GDAX is a platform created by Coinbase that allows for margin trading. It has the beginner friendly layout of Coinbase, offering the same coins that Coinbase offers, but with the addition of margin trading. GDAX also has a wider array of charts than Coinbase. They include candlestick charts, depth charts and order books. Unlike Coinbase however, users can not purchase cryptocurrency by credit card. Only bank wire is available. Users can easily trade coins between the two platforms though.

CEX.io

CEX.io is less beginner friendly than Coinbase, but the trade-off is that there are more features that the advanced trader will appreciate. There is access to all of the same coins listed on Coinbase as well as Bitcoin Gold, Dash, Ripple, Zcash and GigaHash. CEX.io also gives a trader access to margin trading, which allows bearish traders to bet on cryptocurrency prices falling.

Poloniex

For the user that wants access to a wide array of cryptocurrency, Poloniex offers access to several altcoins. The drawback is that purchasing coins on Poloniex is not the easiest process. Poloniex may be the least beginner friendly listed here. It is actually recommended that users buy bitcoin from an easier broker like Coinbase or Coinmama and transfer it to Poloniex to purchase other altcoins. Poloniex also offers margin trading for shorting bitcoin.

LocalBitcoins

LocalBitcoins is a peer to peer platform that allows traders to purchase several different cryptocurrencies. Their claim to fame is that they operate in over 248 countries and 14,000 cities. They allow people to meet up, either in person or online ,to trade cryptocurrency anywhere in the world. LocalBitcoins provides an escrow service to ensure security between users. LocalBitcoin also offers several different payment methods and currency conversion from cryptocurrency to the user’s local currency. There are a few drawbacks to the service though. Users have to be wary of scams more so here, than any other platform. Here is a guide of things to look for when using LocalBitcoins to prevent fraud. LocalBitcoins also does not offer cryptocurrency trading. It is simply a platform for purchasing cryptocurrency.

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